Chapter 7
Costs
Table 7.1 Variation of Short-Run
Cost with Output
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Figure 7.1
Short-Run
Cost Curve
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Figure 7.2 Variable Cost and Total
Product of Labor
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Application (Page 194) Short-Run
Cost Curves for a Printing Firm
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Table 7.2 Effect of a Specific Tax of $10
per Unit on Short-Run Costs
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Figure 7.3 Effect of a Specific Tax
on Cost Curves
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Page 197 Solved Problem 7.1
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Table 7.3 Bundles of Labor and
Capital that Cost the Firm $100
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Figure 7.4
A Family of Isoquant Lines
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Figure 7.5 Cost Minimization
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Application (Page 205)
Rice Milling on Java
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Figure 7.6 Change in Factor Price
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Figure 7.7
Expansion Path
and Long-Run
Cost Curve
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Figure 7.7a Expansion Path and
Long-Run Cost Curve
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Figure 7.7b Expansion Path and
Long-Run Cost Curve
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Figure 7.8
Long-Run
Cost Curves
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Table 7.4 Returns to Scale and
Long-Run Costs
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Table 7.5 Shape of Average Cost
Curves in Canadian Manufacturing
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Application (Page 213)
Average Cost of Cement Firms
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Figure 7.9
Long-Run Average Cost as the Envelope
of Short-Run Average Cost Curves
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Application (Page 216)
Printing Firm
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Application (Page 217)
Oil Pipelines
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Application (Page 218) Choosing
an Ink-Jet or a Laser Printer
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Figure 7.10 Long-Run and ShortRun Expansion Paths
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Figure 7.11
Learning by
Doing
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Figure 7.11a Learning by Doing
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Figure 7.11b Learning by Doing
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Figure 7.12 Joint Production
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